Since we got that VIX-spike signal four weeks ago and subsequent signs that equities are regaining momentum, this is the first time we are getting signals that they are worn out – at least near-term. Since the bottom at 1904.78 … Continued
One more day, and one more post-Great Recession high on the Nasdaq Composite. In fact, the index is at a 14-year high, and yesterday was able to build on Monday’s breakout. There is of course a lot to quibble over … Continued
The Nasdaq Composite (4508.31)has managed to pull off a mini breakout, and is trading above the level identified previously. As a matter of fact, indices/ETFs such as the S&P 500 Large Cap Index and XLF (financials) have convincingly taken out … Continued
The rally the past couple of sessions, is it an oversold bounce or is there more to it than meets the eye? Particularly on Monday, money did come out of defensives such as utilities and health care, and into offensives … Continued
Following up with the piece yesterday, the adjacent chart offers some interesting insight into the direction the FXI might take in the days and weeks ahead. The Chicago Board of Exchange applies its VIX methodology to create indexes reflecting expected … Continued
How equity traders are likely to position themselves for at least the next week or so will depend on how they answer the question above. As the accompanying chart shows, going back at least two and a half years, a … Continued
The Chicago Board Options Exchange has been publishing values for the CBOE S&P 500 Skew Index since February 2011. The index seeks to measure the perceived risk of extreme negative moves in U.S. equity markets – the so-called tail risk. … Continued
Enough ink has been spilled on how in recent months major indices – and sectors/industries within them – have been diverging from each other. For two and a half months beginning late February/early March, previously risk-on favorites such as solar, … Continued
Short interest continues to inch up. By June-end, Nasdaq’s went up 0.6 percent period-over-period to 8.9bn – highest since end-September 2008 – and NYSE’s edged up 0.7 percent p/p to 14.6bn. What is going on in the Naz in particular … Continued
For the last five years, the S&P 500 index has bounced up and down within a channel. Technicals have been in gross overbought territory for a while now. The last time the index had a 10-percent correction was two years … Continued